How to Buy Compound Coin (COMP)

A Step-by-Step-Guide on how to buy Compound Coin (COMP)

Step 1 – Signup to Coinbase and receive 10$ in Bitcoin

You will first need to buy units of the major coins. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Follow the Link below to register and getting Bitcoin or Ethereum.

Binance Signup
Step 2 – Transfer Your Ethereum or Bitcoin to an Crypto Exchange

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Compound Coin (COMP) is obtainable on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Just follow this guide)

Make sure you have chosen the correct coin you want to deposit.

Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etcetera. If you're dealing with a decentralized exchange, like Airswap or DDEX could be different (Follow our how-to).

Step 3 – Find (COMP) Compound Coin

Once your deposit has been confirmed, you'll immediately have access to your finances and you can initiate buying and trading. To invest in (COMP) Compound Coin on Binance, you will want to hover over the tab which is called “Exchange” and click on “Basic”.

In order to spot Compound Coin (COMP), you will need to insert the cointype (COMP) into the search box, which is highlighted in the graphic. Be certain of having choosen the right pairing, we've highlighted this too. Click on “COMP/BTC” to progress.

How to buy Coin on Binance 1 Compound Coin (COMP)
Step 4 – Purchase Compound Coin (COMP)

Once you've located (COMP) Compound Coin, you will be presented with a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the picture). And now we are going to make our Limit Order.

The “Price” field will be filled with the most up-to-date valuation (COMP) Compound Coin was traded for. This can be changed to your favoured rate. The field with the “Amount” tag is the quantity of COMP you like to purchase. The “Total” field is the total price in Bitcoin that you'll settle for the complete amount of COMP.

When you are satisfied, make a mouse click on “Buy COMP”. Your plan will be filled as soon as a Vender sells their COMP for the price you submitted.

Step 5 – Withdraw Compound Coin (COMP)

Unless you're regularly trading, best advise is not to keep your crypto on an Crypto Trader for an longer period of time. In order to withdraw your (COMP) Compound Coin, hover over the tab called “Funds” and mouse click on “Withdraw”. (COMP) Compound Coin can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (COMP) Compound Coin by using the provided drop-down box. Enter the volumen of Compound Coin (COMP) you'd wish to take off. Take into account the shown fees/minimums. Also make sure you have filled your right withdraw address.

When you're satisfied, click on “Submit”. You may be requested for phone/email verification ahead of a withdrawal.

Kudos! You've successfully purchased and safed (COMP) Compound Coin.

That's it!

Withdrawals from Exchange can take anywhere from 1 – 30 minutes (rely on network usage). Once you have confirmed your withdrawal with Ethplorer.io or Etherscan.io and the Compound Coin (COMP) is safe within your wallet, you are done.